Chase Packaging Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 13, 2026, reporting a nine-month net loss of $196,909 driven in part by a $138,180 warrant modification expense.

Key Highlights

  • Nine-month net loss: The company reported a net loss of $196,909 for the nine months ended September 30, 2026, compared to $61,962 for the same period in 2025.
  • Warrant modification expense: A non-cash charge of $138,180 was recorded in connection with the modification of 6,909,000 warrants, whose expiration was extended to March 7, 2029.
  • Q3 net loss: For the three months ended September 30, 2026, the company reported a net loss of $18,239, compared to $17,569 in Q3 2025.
  • Cash position: Cash and cash equivalents stood at $164,805 as of September 30, 2026, down from $221,966 at December 31, 2025.
  • Total stockholders' equity: Equity declined to $158,766 at September 30, 2026, from $217,495 at December 31, 2025.
  • Shell company status: The registrant indicated it is a shell company as defined in Rule 12b-2 of the Exchange Act, with management's plans including securing a merger or acquisition.
  • Shares outstanding: 61,882,172 shares of common stock were outstanding as of November 2, 2026.

Chase Packaging Reports Wider Nine-Month Loss After Warrant Modification Charge

According to the filing, Chase Packaging Corporation, a Delaware corporation, previously manufactured woven paper mesh for industrial applications and polypropylene mesh fabric bags for agricultural use. The company disclosed that it is now a shell company and that "management's plans for the Company include securing a merger or acquisition, raising additional capital, and other strategies designed to optimize shareholder value," while cautioning that "no assurance can be given that management will be successful in its efforts."

The most significant driver of the wider year-over-year loss was a non-cash warrant modification expense of $138,180, recorded in the first quarter of fiscal 2026. The filing's statement of changes in stockholders' equity describes this as the "modification of warrants, expiration of 6,909,000 warrants extended to March 7, 2029." This charge was added back as a non-cash adjustment in the cash flow statement, leaving net cash used in operating activities at $57,161 for the nine months ended September 30, 2026, only modestly higher than the $56,962 used in the comparable prior-year period.

General and administrative expenses for the nine months ended September 30, 2026 totaled $63,512, compared to $69,750 in the nine months ended September 30, 2025. Interest and other income for the same nine-month period was $4,783, down from $7,788 in 2025. The company reported no provision for income taxes in either period. Total assets consisted entirely of cash and cash equivalents of $164,805, against total current liabilities of $6,039 in accounts payable and accrued liabilities, as of September 30, 2026.

What Was Disclosed

Chase Packaging Corporation filed its quarterly report covering the period ended September 30, 2026, disclosing a nine-month net loss of $196,909, a $138,180 warrant modification expense tied to an extension of 6,909,000 warrants, and a cash balance of $164,805.